JPYC stablecoin falls short of targets in first year, CEO says

Japan's yen-backed token passed ¥10 billion in cumulative issuance, but its chief executive says circulation is not where it should be Japan’s first regulated yen stablecoin has reached its first birthday, and the founder is not celebrating. JPYC CEO Noritaka Okabe told NADA NEWS that the yen-backed token has not gained the traction his company expected. It is a rare moment of candor in an industry that usually treats every milestone as a moonshot. He described trading volume as not bad. Circulation was the problem. The amount of JPYC actually outstanding has failed to satisfy him, and it sits well below the company’s internal targets. JPYC launched on October 27, 2025, after the issuer registered as a funds transfer service provider in Japan.

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